Oil Tanker Attacks Sends Prices Soaring

Markets are rebounding from yesterday’s heavy losses following reports of renewed concerns on Middle East stability. Crude, which fell as low as $50.72 yesterday, ended the day with $2/bbl losses. This morning, crude is trading at $52.21, up $1.07. Fuel prices are also bouncing back this morning. Yesterday saw diesel prices down over 4 cents […]

EIA Forecasts Lower Supply and Demand in 2020

The API threw another wrench in rising oil prices by forecasting another large build for crude oil stocks. Markets quickly reverted lower, dragging down fuel prices as well. Crude oil this morning is trading at $52.16, down $1.11/bbl. Fuel prices are once again pushing against recent lows. Diesel prices are currently trading at $1.8074, down […]

All Eyes on Russia

Markets are flat this morning after rising $1.40 on Friday, thanks to statements from Saudi Arabia that the OPEC+ deal will likely be extended.  After briefly popping above $10/bbl on Mexico tariff threats, Brent-WTI spreads have cooled off to below $9/bbl, a sign that WTI’s prospects for the future have normalized relative to Brent. WTI […]

Oil Rebounds on Positive US-Mexico Progress

As is common after a series of down days, markets are rebounding this morning amid short covering as well as positive trade news. After trading as low as $50/bbl, crude oil is currently trading at $53.46, up 87 cents since last night. Fuel prices are also getting a lift this morning. Diesel prices are trading […]

Today’s Market Trends

Markets are continuing to reel from yesterday’s EIA report, though the losses have slowed somewhat. Brent briefly sank below $60 yesterday before rebounding. WTI Crude is currently trading at $51.53, down 15 cents after falling $1.80/bbl on Wednesday. Fuel prices are mixed this morning. Diesel continues to face pressure following the large reported build, trading […]

The Fed is ready to cut rates as needed

Crude prices are falling on inventory reports from the API this morning.  Crude is trading at $52.64, down 84 cents from yesterday’s close. Fuels are also down this morning due to larger than expected builds reported by the API.  Diesel is trading at $1.7942, down 2.7 cents.  Gasoline is also lower, trading at $1.7020, a […]

Mid-Week Review

Oil prices slide on US inventory build, equity rally caps losses U.S. crude inventories rose unexpectedly last week, while gasoline and distillate stockpiles built more than expected, American Petroleum Institute data showed.  Oil prices have fallen sharply on concerns about slowing demand, but won some respite Tuesday after a global stock market rally on hopes […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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